Simon Property Group, Inc. (NYSE:SPG) Receives Average Rating of “Hold” from Analysts

Simon Property Group, Inc. (NYSE:SPG) has earned a consensus recommendation of “Hold” from the ten analysts that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $168.40.

A number of equities analysts recently issued reports on SPG shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday. They issued a “hold” rating and a $195.00 target price for the company. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, Truist Financial lifted their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th.

Insider Activity at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This represents a 1.09 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by insiders.

Institutional Trading of Simon Property Group

Several hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after acquiring an additional 2,746,503 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after purchasing an additional 993,694 shares in the last quarter. International Assets Investment Management LLC increased its position in Simon Property Group by 18,764.1% during the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after purchasing an additional 887,356 shares during the period. Mizuho Securities USA LLC raised its stake in shares of Simon Property Group by 2,520.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after buying an additional 633,072 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Simon Property Group by 295.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock valued at $110,759,000 after buying an additional 489,519 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG opened at $169.26 on Friday. The firm has a market capitalization of $55.23 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 10.50 and a beta of 1.75. The firm’s fifty day simple moving average is $177.27 and its 200-day simple moving average is $164.31. Simon Property Group has a twelve month low of $135.15 and a twelve month high of $186.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.20 earnings per share. Equities analysts forecast that Simon Property Group will post 12.76 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.96%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.